Benin Management CORP Sells 10,340 Shares of CVS Health Co. (NYSE:CVS)

Benin Management CORP decreased its position in shares of CVS Health Co. (NYSE:CVS) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,734 shares of the pharmacy operator’s stock after selling 10,340 shares during the period. CVS Health accounts for about 0.7% of Benin Management CORP’s investment portfolio, making the stock its 22nd largest position. Benin Management CORP’s holdings in CVS Health were worth $2,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Weik Capital Management raised its position in shares of CVS Health by 0.7% during the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock valued at $1,781,000 after buying an additional 120 shares during the last quarter. FCA Corp TX increased its position in CVS Health by 0.6% in the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after purchasing an additional 122 shares during the last quarter. Arvest Trust Co. N A increased its position in CVS Health by 1.2% in the fourth quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock worth $1,040,000 after purchasing an additional 131 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares during the last quarter. Finally, Apella Capital LLC increased its position in CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. SVB Leerink started coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. TD Cowen lowered their target price on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating for the company in a research note on Monday, December 11th. Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Piper Sandler boosted their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Trading Down 0.2 %

CVS Health stock traded down $0.13 during midday trading on Monday, reaching $74.45. 2,696,454 shares of the stock traded hands, compared to its average volume of 11,129,629. The company has a 50-day simple moving average of $76.08 and a two-hundred day simple moving average of $73.78. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The firm has a market cap of $93.69 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. Research analysts expect that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.